• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
twitter
Nexo Logo

Crypto Market Leaders Call For Twitter to Ban ‘Scam Bots’

Nick Chong by Nick Chong
4 years ago
in Cryptocurrency Technology
Reading Time: 3 mins read
Advertisement

Crypto scam bots have become a common sight in the Twitter landscape, with many premier cryptocurrency personalities seeing an influx of fraudulent accounts commenting on their posts. This has become such a large problem that well-known cryptocurrency figures, like Binance’s CEO and Charlie Shrem, have signed an “open letter” calling for these scams to end.

What Are These So-Called ‘Twitter Scambots’?

For those who are unaware, these bots are social media accounts that are created in the guise of a celebrity, an entrepreneur, or a well-known cryptocurrency figure. Some scammers have been known to go above and beyond traditional bots, obtaining the exclusive verified check-mark to make the scam account look even more bona fide.

Once made in the likeness of a target, the bots will begin to infiltrate the comment sections of trending Twitter messages, asking users to send cryptocurrencies to a wallet address, in exchange for a substantially larger payout. Not only does the bot post a misleading comment, but it often enlists the help of other enslaved accounts to engage with the malicious tweet, making it more visible to the public.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Obviously, nothing ever comes of these payments, with many experienced Twitter users realizing that the funds offered are too good to be true. However, some naïve users, new to the crypto sphere or Twitter, have reportedly fallen victim to this method of cybercrime, losing their funds forever.

These bots have become such a widespread phenomenon that Elon Musk, currently the world’s most famous entrepreneur, has even begun to acknowledge their presence, jokingly issuing a tweet regarding the “Etherium scambots.”

I want to know who is running the Etherium scambots! Mad skillz …

— Elon Musk (@elonmusk) July 8, 2018

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Kaspersky Labs, a Russian cybersecurity firm, pointed out that this scheme was one of the “social engineering” acts of cybercrime that saw criminals net nearly $10 million last year. This figure attests to the fact that this issue has become prevalent in the community, triggering a discussion on how to counteract this problem.

“End The Hypocrisy, #SaveTwitter”

It has become apparent that cryptocurrency community members, whether influential or not, are sick and tired of this omnipresent issue. Svandis, a crypto analytics community, has become the voice of the community in the fight against these scambots, recently publishing an open letter regarding the issue that was aimed at Twitter.

The letter covers a variety of pressing topics, including the fact that the platform had purged “suspicious and dormant accounts,” but not scambots, along with the hypocrisy that Twitter was taking a part of. Svandis wrote:

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

“Twitter’s public stance on cryptocurrency and blockchain technologies is inconsistent and ambiguous. At a time when companies and individuals, even not-for-profits intent on educating individuals, are barred from advertising to interested participants via Twitter, it is not just hypocritical, but shameful that the company allows these spam bots and false accounts to exist and rampantly scam users, while spreading misinformation.”

Originally, the letter was only seen by a few eyes, but it started to rapidly gain traction as Binance’s CEO, Charlie Shrem, and Crypto Rand put their stamp of approval on the letter, retweeting the Medium post.

https://twitter.com/cz_binance/status/1019621604584669184

Surprisingly enough, Ethereum co-founder Vitalik Buterin, who was gone as far as to change his Twitter name to “Not giving away ETH,” has not signed the letter. However, Buterin has still been outspoken against these bots, calling for Jack Dorsey, the CEO of Twitter to amend the issue.

I do wish @elonmusk's first tweet about ethereum was about the tech rather than the twitter scambots……..@jack help us please? Or someone from the ETH community make a layer 2 scam filtering solution, please? https://t.co/biVRshZmne

— vitalik.eth (@VitalikButerin) July 9, 2018

The Ethereum co-founder and well-known crypto personality called upon members of the Ethereum community to make a “layer two scam filtering solution,” which may consist of something like a web plugin that automatically hides scam tweets.

Despite holding a positive sentiment regarding cryptocurrencies, Jack Dorsey, the CEO of Square and Twitter, has surprisingly not addressed a problem that is near and dear to a community he appreciates.

Nonetheless, if this open letter gains enough traction, many expect for Dorsey, with the social media handle @jack to eventually address this small, yet dedicated portion of Twitter’s user base.

 

Image from Shutterstock
Tags: BinanceChangellycryptocrypto twittercryptocurrencycryptocurrency newselon muskNewsscamscambottwitter
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Stepn

Stepn GST Token Slides 97% – Despite Fitness App Having 3M Users

2 months ago
The Sandbox

The Sandbox (SAND) Blows Up 20% After Collab With Major Entertainment Firm

2 months ago
Shiba Inu

Shiba Inu Kicks Off Metaverse Project; SHIB Rallies 14% In The Last 7 Days

4 months ago
Powell

Fed Chair Powell Says Crypto Requires New Rules, Citing ‘Threats’ To US Financial System

5 months ago
Fiat

Fiat – Not Crypto – Still The Top Choice For Financial Crimes, US Treasury Says

5 months ago
Facebook

Former Facebook Employees Get $200 Million To Create Blockchain System For Aptos

5 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Frontnode announces future support for additional cryptocurrencies (Bitcoin, Ethereum, Cardano, XRP, Dogecoin)

August 10, 2022

Hackless Pioneers B2B & B2C Security Tool for DeFi, Saving Nearly $500,000 for Clients

August 10, 2022

RoboApe and Solana: The Best Cryptocurrencies for Supporting dApps

August 10, 2022

Chronoly.io Presale Tokens Are Selling Out Fast, Hex Coin (Hex) And Filecoin (FIL) Suffer Loses

August 10, 2022

8 BEST Cloud Mining Sites of 2022

August 10, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.